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Wins $25,000 in start-up funding for plan to manufacture material coatings for “smart” windows or surfaces

from left: Peter Marley, Ann Brozek and Brian Schultz

Published
June 19, 2014

Three UB students took first place in the University at
Buffalo’s Henry A. Panasci Jr. Technology Entrepreneurship
Competition (Panasci TEC) for their plan to manufacture a material
coating that can regulate heat from the sun in any building
creating “smart” windows or surfaces.

“The Panasci TEC experience was priceless. We knew our
competition was fierce, and each team had great startup ventures
and ideas. The guidance, know-how and resources made available to
us during the competition brought our business plan and elevator
pitch to a level worthy of investors,” said Schultz.

The Department of Energy estimates that more than 114 million
households and 4.7 million commercial buildings use more energy
than transportation or industrial sectors, accounting for nearly 40
percent of all energy consumed in the U.S.

Development of the innovative coating was led by Sarbajit
Banerjee, UB assistant professor of chemistry. Schultz and Marley
are two of his graduate assistants and have partnered with Brozek
to commercialize the technology through their company, diMien.

The coating is a vanadium oxide material that senses temperature
changes and adapts to either reflect heat or transmit heat, all
while remaining invisible to the human eye. During cold weather,
the coating allows the sun’s natural heat to warm the
interior of a building, cutting heating costs. But when
temperatures rise, the coating switches to reflect heat keeping the
interior cool and comfortable, saving on cooling costs. This
reduces energy consumption in buildings by making them more
efficient.

According to the Department of Energy, as much as $10 billion in
savings can be achieved annually if energy consumption is reduced
by just 1 percent.

In addition to the $25,000 in start-up funding, the winning team
will receive in-kind awards valued at more than $27,000 for legal
services from Jaeckle Fleischmann & Mugel LLP; accounting
services from Kopin & Co. P.C.; business development services
from the UB Office of Science, Technology Transfer and Economic
Outreach; human resource start-up services from the People Plan by
HR Foundations Inc.; and office space from North Forest Office
Space, bringing the total package to more than $52,000.

The second-place award of $10,000 went to Michael Sparks of
Albany for his business, Sticker Lights (StickerLights.com), which
produces customizable, USB-powered illuminated stickers for laptop
branding. Sparks will graduate from UB in May with a BS in
electrical engineering and an MBA from the School of
Management.

Now in its 13th year, Panasci TEC awards seed money and business
services to the team that presents the best plan for launch of a
viable new business. Twelve local ventures have been launched with
first-place prize money since the UB competition began, and most
are still in business.

The competition was created by the University at Buffalo School
of Management and the UB Office of Science, Technology Transfer and
Economic Outreach, and is funded with a $1 million endowment from
the late Henry A. Panasci Jr. to facilitate and promote the
commercialization of UB-generated technologies.

Forty-two teams entered this year’s competition, and 27
made first-round pitches to the preliminary judges. Nine teams of
semifinalists were selected from that group to submit business
plans, and five teams were chosen, based on the content of their
written business proposals, to present their business plans
publicly in the competition’s final round on April 19 at
UB’s Center for the Arts Screening Room.

Each team delivered a 10-minute presentation and was evaluated
on how well they described the feasibility and marketability of
their venture, proved the need for their product or service and
presented potential sources of capital.

Other new venture ideas included a virtual keyboard, number pad,
mouse and key logger that enhances computer training by displaying
the instructor’s physical inputs and projects them onto a
screen; an application for smartphones and tablets that connects to
restaurant point-of-sale systems for easy payment; and a
free-standing automated system for clients to drop off and pick up
laundry using swipe card technology.